Ambitious Libyan firm LAP Green has acquired a 75% stake in Zambian operator Zamtel for US$257m.
LAP Green has committed to inject around US$127m to finance existing and new network expansion projects, having seen off competition from a consortium of…
Ambitious Libyan firm LAP Green has acquired a 75% stake in Zambian operator Zamtel for US$257m.
LAP Green has committed to inject around US$127m to finance existing and new network expansion projects, having seen off competition from a consortium of Altimo Holdings and VimpelCom, which was also bidding. A third group, made up of Angolan firms Unitel and Angola Cables was the only other bidder in the final stages of the process.
The government of Zambia retains a 25% stake in Zamtel, while Lap Green has agreed to a five-year business plan based around major investment and rapid growth.
RP Capital managed the sale process.
Lap Green is advised by Standard Bank and the law firm Denton Wilde Sapte.
